Shiba Inu Market Cap Returns Above $3 Billion After Pullback

Shiba Inu (SHIB)’s market capitalization returned above $3 billion in the Oct. 16 reading, rising to $3.02 billion from $2.99 billion a day earlier after briefly falling below that level.

SHIB’s Oct. 16 UTC session closed at $0.00000508 at 8 p.m. ET (0000 UTC Oct. 17), after trading between $0.00000502 and $0.00000519. The close was about 13.6% below the $0.00000588 close on Oct. 5.

The Oct. 16 market capitalization was about 13.4% below the $3.49 billion recorded on Oct. 5. With about 589.23 trillion SHIB in circulation, a price of $0.000005 implies a market value of roughly $2.95 billion.